BEIJING — Asian stock markets retreated Wednesday as investors looked ahead to U.S. data they worry will show inflation is picking up.
More U.S. inflation were due out Wednesday. Investor concern is increasing following a price rise for industrial materials including copper and crude oil. The Kospi 180721, -1.55% in Seoul tumbled 1.5% and the S&P-ASX 200 XJO, -0.78% in Sydney fell1%. New Zealand and Southeast Asian markets also declined.
Big technology companies were among the biggest decliners for a second day. Tech stocks get most of their valuation from future profits that might be less valuable if they are eroded by inflation.
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